Carl Icahn Comes Under Fire!

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Legendary corporate raider and activist Carl Icahn found himself on the wrong side of a familiar battle this week when the short selling investment firm Hindenburg Research took aim at Icahn’s publicly traded holding company, alleging in a new report that Icahn Enterprises L.P. (IEP) is overstating the value of its private asset portfolio, and that its publicly traded stock units–85% of which Icahn owns–are “significantly overvalued.”

Icahn’s fortune fell over 35%, from $18.3 billion on Monday afternoon to $12 billion as of Tuesday’s market close. Icahn Enterprises units tumbled 20% on Tuesday, shaving $3 billion in market value off Icahn’s fortune. Forbes then trimmed Icahn’s estimated net worth by another $3.6 billion, after it was revealed that Icahn had pledged over half of his IEP shares as collateral against unknown personal debts.

Hindenburg is a short selling activist hedge fund run by Nate Anderson who is most famous for having released a video of Nikola’s electric truck prototype being towed up a hill in order to be pushed down to make a promotional video showing that the technology was fully operational. He claims that Icahn Enterprises has a Ponzi-like economic structure.

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72 thoughts on “Carl Icahn Comes Under Fire!

    1. The sarcasm/wit is exceptional and yet…. Educational… Subjectively! PB content definitely a high point of the week

  1. The fact that the dividend was 15% before the price drop suggests that some people had a hint that things were wrong all along.

    1. Limited partnership dividends are from cash flow not paid out from earnings thus they are generally higher than qualified dividends

    2. Realistically he should have been buying in those shares with a 15% yield. Getting a guaranteed 15% is pretty sweet.The fact that he was selling them should raise a big red flag.

    3. Meanwhile here in Australia THAT’S NORMAL returns for the mining industry. You Americans get such CRAP returns, getting excited over 7%.

    4. @Link Knight well ive watched friendly jordies enough time to now which BRUZZZZ is making fat stacks in Aussie land

  2. Ackman and Carl had probably the most awkward hug in stock market history. I don’t know if they were afraid they were going to steal from each other pockets

    1. It was really a strange mix of trying to look enthusiastic for a hug and then try to avoid physical contact

    1. Really wish Ackman won that one. Not for him but just so that Herbalife gets hurt and maybe set a record for that type of companies

    2. He’s quite a destroyer of companies. Comes in, FIRST everyone’s wage drops, people leave and new hotes are idiots or drug addicts because the rate is SO bad, then he strips the place of ALL the decent stuff especially any new equipment on lease, and you’re back to doing it the hard way with a bunch of fumbling idiots or addicts, and eventually you quit too. Heard of from a former Pep boys employee.

  3. So you’re telling me that the guy who was one of the inspirations for Gordon Gekko is NOT a paragon of virtue and ethics? I AM SHOCKED, SHOCKED!!!

    1. Excellent, Norm. But Normie, Normie, Normie, you forgot your lines: shocked and chagrined, mortified and stupefied. That’s what you wanted to say. Because the light was on

    2. @cdreid9999 Gekko was more thinking about something like ambition, willpower and direction. Its an evolutionary drive not pure hedonism and gluttony.
      Its a drive for improvement.

  4. It still amazes me how much these videos fill me with knowledge and make me laugh at the same time.

    1. So good 😂. Surely Carl has some block chain technology to include in this Ponzi somewhere?!

  5. Hindenburg strikes again! Never would’ve thought of short sellers as doing good work, but seems like they put a lot of focus on breaking up scams and frauds

    1. That’s kind of the whole point of short sellers. Without short sellers the only incentive there is less incentive to expose fraud and scams.

  6. There are several strategies that Carl Icahn can utilise:

    1. Fire employees
    2. Buybacks
    3. Promise vaporware
    4. Declare bankruptcy
    5. Mention AI & how it’ll improve his business

    1. These would all unironically tank his stock price as well. If investors key in that any piece fo hindenburgs report is factual they will jump ship guaranteed

    2. He just needs to 3d print some marijuana AIs on the block chain and announce funding is secured at $42.69.

  7. “He was accused of being a asset strpper (the worst kind of stripper) in his dealings” funny af 🤣

  8. Patrick masters the art or serious humor and information. Never disappoints. Well done as always

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  10. “Its been over 100 years since we’ve heard anyone speak positively of a ponzi”
    SBF 2022: hold my beer 14:11

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